Printer Friendly
Dictionary, Encyclopedia and Thesaurus - The Free Dictionary
3,898,013,320 visitors served.
forum Join the Word of the Day Mailing List For webmasters
?
Dictionary/
thesaurus
Medical
dictionary
Legal
dictionary
Financial
dictionary
Acronyms
 
Idioms
Encyclopedia
Wikipedia
encyclopedia
?

Finance Charge
(redirected from Finance Charges)

    Also found in: Financial, Wikipedia 0.01 sec.

The amount owed to a lender by a purchaser-debtor to be allowed to pay for goods purchased over a series of installments, as opposed to one lump sum at the time of the sale or billing.

A finance charge, sometimes called the cost of credit, is expressed as an annual interest rate levied upon the purchase price. It does not include any amounts that the lender might require for insurance premiums, delinquency charges, attorney's fees, court costs, collection expenses, or official fees that might be incurred should the debtor default in the repayment of the debt.

Federal and state "truth-in-lending" laws mandate that the complete cost of finance charges be fully disclosed on credit agreements and billing statements.

Cross-references

Consumer Credit Protection Act.
Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content.
?Page tools
Printer friendly
Cite / link 		Feedback
Add definition
Mentioned in?  References in periodicals archive?   Legal browser?   Full browser?
 
These 0 APR credit cards offer three months, six months or sometimes 12 months of no finance charges on balances that are transferred and sometimes also on any purchases that you make during the introductory period.
Applying for a Credit Line Offered at 0 APR Is An Outstanding Way to ... by mohsin khan / Business community
Also, find out the specific date when the no interest period expires (month and day) so that you are sure to pay off any money you borrow during that time before the finance charges start accruing.
No Interest Credit Cards Sound like the Perfect Type of Credit by Sachin Temghare / Fashion, accessories and textiles community
In the end that''s your goal: to have no finance charges at all to pay, because you do not carry over and debt from month to month.
Improve Credit Score by Rebuilding Your Discipline Using Your Credit ... by Dee Power / Finance and Investment community
 
 
 
Legal Dictionary
?

Terms of Use | Privacy policy | Feedback | Advertise with Us | Copyright © 2012 Farlex, Inc.
Disclaimer
All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional.